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Watch for Continued Losses in Shares of Semgroup Corp-A (SEMG)

By Shiri Gupta

Semgroup Corp-A (NYSE:SEMG) traded today at a new 52-week low of $9.28. Approximately 236,000 shares have changed hands today, as compared to an average 30-day volume of 825,000 shares.

SemGroup Corp. moves energy through a network of pipelines, terminals, and storage tanks. The Company purchases, sells, processes, transports, and stores energy including gas liquids, asphalt, and refined products.

In the past 52 weeks, Semgroup Corp-A share prices have been bracketed by a current low of $9.28 and a high of $26.05 and are now at $9.28. The 200-day and 50-day moving averages have moved 1.01% lower and 1.32% lower over the past week, respectively.

Semgroup Corp-A (NYSE:SEMG) has potential upside of 185.0% based on a current price of $9.28 and analysts' consensus price target of $26.44. The stock should run into initial resistance at its 50-day moving average (MA) of $11.85 and subsequent resistance at its 200-day MA of $14.57.

SmarTrend recommended that its subscribers protect gains by selling shares of Semgroup Corp-A on May 29th, 2019 by issuing a Downtrend alert when the shares were trading at $12.77. Since that call, shares of Semgroup Corp-A have fallen 22.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows semgroup corp-a

Ticker(s): SEMG